* Finance: An easy acronym suitable for identifying NON-EXEMPT SECURITIES, that can be used during the Uniform Securities Examination, Series 63 Exams.

*How it works: You the acronym "C4. R. E. F.T.I." or simply "Crefti" each time one is asked figure out which security will be exempt from state registration. The definition of CREFTI is for non-exempt securities. ANY SECURITY ON THIS LIST MUST BE REGISTERED AT THE STATE LEVEL.

Non-Exempt securities (MUST register):

*C- Currency
*C- Condos
*C- Collectibles
*C- Commodity Futures

*R- Residence

*E- Endowments

*F- Fixed Annuities

*T-Traditional (Whole ) Insurance

*I -IRA or Keogh plans

(Hint: any security not on this list IS either an exempt or Federal Covered security, thus need not register at the State level)

Example:" According to the provisions given under NSMIA and the Uniform Securities Act, which of the following securities my be registered with the State Administrator....(long list of securities provided)

Answer: Use CREFTI --anything NOT on this list is exempt from registration! (Bingo!)